From purchasing a yacht to taking a trip around the world to paying off college loans – it’s easy to picture the many ways one might spend lottery prize money once it hits the bank.
But what happens to the lottery prize money that is left unclaimed?
In Illinois, lottery prize money must be claimed within a year of drawing, according to the Illinois Lottery.
After a year, the prize expires.
All profits from the Illinois Lottery games must go to public education and other special causes, according to the Illinois Lottery.
By law, unclaimed prize money that is not distributed through a “special drawing” must be transferred to the Common School Fund. Once in the Common School Fund, allocation of the money is determined by the Illinois General Assembly.
The Illinois General Assembly determines how money in the Common School Fund is distributed. Although the Department of the Lottery contributes to these funds, it does not decide how that revenue is allocated.
Local
The oldest currently unclaimed lottery prize in Illinois is set to expire on March 23.
The unclaimed ticket, worth a $100,000 prize, was purchased for the March 23, 2024 drawing at Huck’s, located at 315 E. Calumet in Centralia.
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The Illinois Lottery is telling anyone who thinks they may have purchased a Powerball ticket for last year’s March drawing to check under their sofa cushions, in old coat pockets or other spots where the winning ticket might be hiding.
In addition to the ticket that is soon to expire, there are 12 Illinois Lottery prizes currently unclaimed, totaling over $5.35 million, according to the Illinois Lottery.
A full list of unclaimed jackpot prizes can be found here.
